The EU will announce the draft restrictions on new regulations, the US technology giant may face huge fines

　　Chinanews, December 15th, according to a comprehensive report, according to the new draft regulations to be announced by the European Union on the 15th, American technology giants such as Amazon, Apple, Facebook and Google may have to change their business behaviors in Europe, otherwise they will face a year. Huge fines of 6% to 10% of turnover.

Data map: A man passes by the Facebook headquarters in Menlo Park, Northern California, USA.

Photo by China News Agency reporter Liu Guanguan

　　According to reports, American technology giants such as Amazon, Apple, Facebook and Google control large amounts of data and online platforms that thousands of companies and millions of Europeans rely on.

The new regulations are a strict attempt by the European Union to restrain the US technology giants.

　　The EU Commissioner for Competition Vestaci and EU Commissioner for Internal Market Breton will announce these new regulations, not only to restrain the technology giants, but also to prevent the emergence of leading companies that violate competition regulations.

　　A person familiar with the matter told Reuters that one of the new regulations, called the Digital Market Act, would require fines for online information “gatekeepers” found to be violating the regulations, up to 10% of their annual turnover.

　　The second set of rules is called the "Digital Services Law", and it also targets online platforms with more than 45 million users, requiring them to take more actions to deal with illegal content on the platform, as well as abuse their platform to infringe on basic rights and deliberately manipulate the platform to influence Election results and public health behaviors.

　　In addition, the platform must also expose details about political advertisements and the algorithm parameters used to prompt and arrange information.

　　These drafts need to be coordinated with the requirements of EU countries and EU legislators. Some of these countries are pushing for stricter laws, while others are worried about excessive regulation and adverse effects on innovation.

　　According to the report, technology companies that have been calling for appropriate and balanced laws are expected to use this disagreement to lobby countries to formulate looser rules. The final draft is expected to be published in the next few months or even years.